Rent-A-Center, Inc. | Company Profile, Marketing Contacts, Media Spend, Brands
Headquartered in Plano, TX, Rent-A-Center operates 3,406 stores and garners approximately 40 percent of the retail rental market. The company rents major consumer electronics, appliances, computers and furniture and accessories under rent or rent-to-own agreements.
|Main Telephone||(972) 801-1100|
|Main Fax||(972) 943-0112|
Rent-A-Center, Inc. ContactsContacts (5/10)
|Robert D.||Chief Executive Officer||TX|
Sample of Associated Brands
|Doug G.||Chief Strategy Officer||TX|
|Guy C.||Chief Financial Officer||TX|
|Ian C.||Vice President - Omni Channel||TX|
|Shilpa D.||Director, Customer Insights||TX|
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‘Close Watch' Rent-A-Center retains Mindshare, expect further roster changes, higher digital spen...
Subject: TV, radio, Spanish language media, digital, social media, online advertising, data, CRM
Company: Rent-A-Center (RAC) largest rent-to-own chain in the US
Data Investments and Marketing Updates: Rent-A-Center has been developing its customer segmentation abilities and digging deeper to better understand the experience its current customers and potential customers desire. As a result, it has already started to adjust go-to-market strategies, but changes should be more noticeable next year and beyond. Under CMO Rita Bargerhuff, who joined Rent-A-Center in 2012, the company changed its messaging last year and targeted consumers unfamiliar with the brand, versus focusing ads solely on promotions and prices (research here). Additionally, it's working to drive higher ROI across traditional and digital channels.
Last year, Rent-A-CenterOCCAM), as part of a a multimillion campaign to raise its brand awareness to potential customers.
New Decision Makers: In recent months, RAC has appointed a new marketing VP (research here). These hires are part of RAC’s efforts to better understand its customer base and develop an updated one-on-one and omnichannel strategy.
Core Consumer: Rent-A-Center typically attracts women 25-to-54 and individuals that are unable to pay cash for big-ticket items.
Media Spend: Rent-A-Center's advertising expense was $92.6 million, $97.3 million and $92.8 million in 2013, 2012 and 2011, respectively. The company has spent between $34 million and $39 million annually on measured media the last three years, according to Kantar Media. Spending skews towards TV and radio, but keep an eye on the chain’s rising Spanish language ad spend.
Competition: RAC's primary lease-to-own rival is Aaron's, which recently launched a new campaign and new marketing to also attract Hispanic consumers (research here).
U.S. Struggles: RAC is only “Close Watch” status now, but I expect roster changes at the end of the year if its Q1 ended March 31 compared to the prior year period.
Rent-to-own companies typically perform well during economic downturns but sales start to fall as the economy improves because shoppers with higher disposable income go back to traditional retailers and poorer customers still remain cautious about spending. To help reverse this trend, RAC is offering a wider range of products to help attract new customers who aren't familiar with the rent-to-own experience. For example it started selling smartphones (like the Samsung Galaxy S4) in July with unlimited talk, text and web plans via AT&T and T-Mobile.
5501 Headquarters Drive
Plano, TX 75024
Senior Vice President & Chief Marketing Officer
Vice President, Marketing Strategy & Insights
Vice President, Marketing
Executive Vice President & Chief Omnichannel Officer
Vice President, Omnichannel